8 days ago

Stocks end down as investors book profits amid market recovery

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Stocks ended lower on Wednesday as cautious investors engaged in profit booking, taking advantage of the recent market recovery with continuous price appreciation in major scrips.

The prime index of the Dhaka Stock Exchange (DSE) declined by 26.19 points to settle at 5,568.45.

The equity indices of the Dhaka bourse slid into the red trajectory, breaking a six-session gaining streak, according to EBL Securities.

The blue-chip index DS30, a group of 30 prominent companies, saw a 6.40-point decrease to 1958, while the DSES Index, which represents Shariah-based companies, saw a 3.85-point decrease to 1,219.48.

The capital bourse observed volatility, particularly in the latter half of the session, as the market pulse turned back to the correction mode with investors preferring to remain watchful of the market's trend following a sustained uptrend over several consecutive sessions, EBL Securities added.

Turnover, a crucial indicator of the market, stood at Tk 9.67 billion, up 5.09 per cent from the previous trading day.

The majority of stocks saw a price decline, as out of 394 issues traded, 98 closed higher, 266 ended lower, and 30 remained unchanged on the DSE trading floor.

Beach Hatchery Ltd was the most-traded stock with shares worth Tk 391.69 million changing hands, followed by Orion Pharma Ltd, Sea Pearl Beach Resort & Spa Limited, Intraco Refueling Station Limited and Salvo Chemical Industry Limited.

The Chittagong Stock Exchange (CSE) also ended higher with its All Share Price Index (CASPI) losing 3.95 points to settle at 15886, and the Selective Categories Index (CSCX) losing 2.5 points to settle at 9562.

The port city bourse traded 9.41 million shares and mutual fund units with a turnover volume of Tk 427.64 million.


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